Germany aiming for bank resolution deal by year-end - official

Reuters

BERLIN, Oct 23 (Reuters) - Germany still wants to reach acommon position with its EU partners on a resolution mechanismfor failing banks by the end of this year and is workingconstructively to that end, a senior official said on Wednesday.

The official said however, that Germany had no plans topresent an alternative plan for how a resolution fund might workat this week's EU summit and reiterated Berlin's stance thatnational budget autonomy for winding up banks could not beoutsourced.

"This is written into German law," the official said. "To behonest I don't understand why it is so difficult for theEuropean Commission to understand this."

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